NEW YORK—U.S. stock investors could not be more eager to turn the page on 2022, a brutal year dominated by market-punishing Federal Reserve rate hikes designed to tamp down the steepest inflation in 40 years. The S&P 500 is down nearly 20 percent year-to-date with only a few trading days left in 2022, on pace…
Inflation, Recession, and Earnings Among Factors to Drive US Stocks in 2023
December 28, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyinflationMarketsMedia & Big TechrecessionstocksUSUS News
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Dollar Touches 1-week High Versus Yen Thanks to Rise in Bond Yields
LONDON/TOKYO—The dollar touched its highest in over a week against the yen on Wednesday, boosted by a jump in Treasury yields and by anticipation among investors of a rebound in Chinese growth as COVID-19 curbs loosen. The yen also came under pressure after the Bank of Japan signaled that a surprise policy shift last week…
Oil Prices Fall on Worries About China COVID-19 Surge, Global Recession
December 28, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell on Wednesday on concerns that rising COVID-19 cases in China, the world’s top oil importer, will disrupt its economic recovery and fuel demand growth as it unwinds its pandemic restrictions. Brent futures for February delivery fell 78 cents, or 0.9 percent, to $83.55 a barrel, by 0900 GMT. U.S. crude fell 75…
Global Shares Muted as Investors Fret Over China Reopening
December 28, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SINGAPORE, LONDON—Global equities traded sideways on Wednesday after China took further steps towards reopening its COVID-battered economy, with hopes for an economic rebound tempered by near-term worries over rising cases. MSCI’s broadest index of global stocks was flat as investors stayed on the sidelines at the end of a brutal year for equities. The global…
US Home Prices Fall for Fourth Straight Month Amid Higher Interest Rates
U.S. home prices fell for the fourth consecutive month in October as a mix of higher interest rates, elevated inflation, and low housing inventory weighed on the real estate market. The S&P CoreLogic Case-Shiller 20-city home price index in the United States (pdf) tumbled 0.8 percent month-over-month. Compared to the same time a year…
From Automation to Outsourcing, Manufacturing Recession Fears Grow, Dallas Fed Survey Shows
The latest Federal Reserve Bank of Dallas survey confirmed that activity in the Texas manufacturing sector continued to deteriorate in December. General business activity in the state’s manufacturing industry plummeted to negative 18.8 in December, down from negative 14.4 in November. This represented the eighth consecutive contraction and the third-worst reading of 2022. The report…
Fears of a Manufacturing Recession Growing, Dallas Fed Survey Shows
The latest Federal Reserve Bank of Dallas survey confirmed that activity in the Texas manufacturing sector continued to deteriorate in December. General business activity in the state’s manufacturing industry plummeted to negative 18.8 in December, down from negative 14.4 in November. This represented the eighth consecutive contraction and the third-worst reading of 2022. The report…
Dow Opens Higher on Easing China COVID-19 Curbs; Tesla Weighs on Nasdaq
The Dow Jones opened higher on Tuesday after China further relaxed its COVID-19 curbs by scrapping the quarantine rule for inbound travelers, while a drop in Tesla shares weighed on the Nasdaq. The Dow Jones Industrial Average rose 20.30 points, or 0.06 percent, at the open to 33,224.23. The S&P 500 opened lower by 1.48…
World Economy Headed for Recession, Inflation Fight Not Over Yet: Research
The global economy is headed toward a recession as it tries to deal with the pressures of inflation, according to the Centre for Economics and Business Research (CEBR), which foresees China overtaking the United States economically by 2036. “It’s likely that the world economy will face recession next year as a result of the rises…
Nearly 3 in 5 German Industry Associations Foresee Gloomy 2023
BERLIN—Nearly three out of five German industry associations are pessimistic about next year and expect their companies to produce less as high energy prices due to the war in Ukraine show no signs of abating, found a survey published Tuesday. Of the 49 associations surveyed by the IW economic institute, 30 said they expect their…
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